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September 5th, 2013 at 11:06 PM

Geek Show: Summer 2013 Statistics of Income Bulletin Now Available

You may know why this is important information. Please allow me to further ‘splain. Income tax preparation is not a science. It is an art, but an art informed by statistical data. Many people do not keep meticulous records of their expenditures. It is my challenge to present a reasonable estimate to the Internal Revenue Service, evaluating your income streams and normal expenses, based upon your industry classification.  Therefore, it is my duty to read these materials and assimilate them. 

People who operate businesses enjoy substantially more deductible expenses than wage-earners. Tax law encourage entrepreneurs. Please allow me to analyze your small business operation in order to maximize your legal deductions and therefore help render your tax obligation reasonable and proportional.  ~Deborah

WASHINGTON — The Internal Revenue Service today announced that the summer 2013 issue of the Statistics of Income Bulletin is available at The summer 2013 issue features data from Form W-2, Wage and Tax Statement, filed with individual income tax returns for tax years 2008 through 2010.

The Statistics of Income (SOI) Division produces the SOI Bulletin on a quarterly basis. Articles included in the publication provide the most recent data available from various tax and information returns filed by U.S. taxpayers. This issue of the SOI Bulletin also includes articles on the following topics:

  • Wage Income and Elective Retirement Contributions from Form W-2, 2008-2010. The average individual W-2 earnings rose slightly from $40,532 in 2008 to $40,892 in 2010. Some 65.8 million taxpayers with W-2 income participated in an employer-sponsored retirement savings plan in tax year 2010, making $209.2 billion in direct contributions for the year.
  • Sole Proprietorship Returns, 2011. Approximately 23.4 million individual income tax returns reported nonfarm sole proprietorship activity for tax year 2011. Profits rose to $282.6 billion for the year, a 5.6-percent increase from 2010. Total receipts increased to $1.3 trillion for 2011, up 5.9 percent from 2010.
  • Foreign Recipients of U.S. Income, 2010. Foreign persons received $557.8 billion in U.S.-source income in Calendar Year 2010, representing a 2.1-percent increase over the amount paid in 2009. Interest payments accounted for the largest share of income paid to foreign recipients (46.8 percent) in 2010, followed by dividends (20 percent).
  • Foreign-Controlled Domestic Corporations, 2010. Foreign-controlled domestic corporations (73,210) accounted for 1.3 percent of all U.S. corporation income tax returns filed for tax year 2010. Total receipts for these corporations ($4.1 trillion) and total assets ($11.2 trillion) accounted for 15.5 percent of the receipts and 14.1 percent of the assets reported on all U.S. corporation income tax returns for the year.
  • Corporate Foreign Tax Credit, 2009. For tax year 2009, some 5,706 U.S. corporations claimed a foreign tax credit of more than $93 billion against their U.S. income tax liability.
  • Unrelated Business Income Tax Returns, 2009. Some 42,469 tax-exempt organizations reported $9.7 billion in gross unrelated business income for tax year 2009.
  • Use of the Empowerment Zone and Renewal Community Employment Credit, Tax Years 1998-2010. Federal empowerment zones (EZ) and renewal communities (RC) are economically distressed geographic areas eligible for temporary tax incentives to encourage economic development. The amount of allowable EZ/RC employment credit claimed on individual and corporate tax returns increased from $41.7 million in 1998, to $277.1 million in 2005, before declining to $172.9 million in 2010.

The Statistics of Income Bulletin is available for download at Printed copies of the Statistics of Income Bulletin are available from the Superintendent of Documents, U.S. Government Printing Office, P.O. Box 371954, Pittsburgh, PA 15250-7954. The annual subscription rate is $67 ($93.80 foreign), single issues cost $44 ($61.60 foreign).

For more information about these data, write to the Director, Statistics of Income (SOI) Division, RAS:S, Internal Revenue Service, 1111 Constitution Avenue NW, K-Room 4112, Washington, DC 20224.
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